A conventional automatic securities trading system (hereinafter referred to as a securities trading system) uses a method which is integrated with a manual order management system (hereinafter also referred to as an OMS) and which hard-codes an algorithm as a program code.
The securities trading system of this type mainly performs target ordering to receive market news and place an order when a target price is reached, or performs volume weight average price (VWAP) ordering to divide an order and place the order at a scheduled order time.
However, the conventional securities trading system uses the same foundation for the market news reception and order function as the OMS. Accordingly, the OMS intervenes in order placement processing, and order telegrams are created in the OMS. Therefore, an agreement may be disadvantageously made at an unfavorable price due to low response performance from the reception of the market news to order placement.
As the conventional securities trading system uses the method that hard-codes the algorithm, the system makes a judgment by a simple AND/OR condition of, for example, the current price, which makes corrections or changes to the algorithm difficult. Therefore, the disadvantage of the conventional system is that packaging of an algorithm expected by a trader is difficult.
Another disadvantage of the conventional securities trading system is that the addition of an algorithm function and the scale-out in the case of increased orders (slice numbers) are difficult.
On the other hand, recently, a large number of vendors have been selling algorithm trade products with an improved securities trading algorithm to eliminate the above-mentioned disadvantages.
The above-mentioned algorithm trade products have, however, no problem in general. Meanwhile, according to the examination by the present inventor, high-speed performance deteriorates if importance is placed on recovery (availability) during failures, and availability deteriorates if importance is placed on high-speed performance.
Therefore, it is considered that the above-mentioned algorithm trade products are not suitable for a system such as the securities trading system that requires both availability (mission critical) and high-speed performance (low latency).
A problem to be solved by the present invention is to provide a securities trading system and a device which enable both availability and high-speed performance in securities trading.